World Bank2012-06-182012-06-182006-06https://hdl.handle.net/10986/8280This note provides a short overview of urban land and housing market performance in Punjab Province of Pakistan. It describes the characteristics of well-functioning urban land and housing markets and argues that, at present, the Punjab's urban land and housing markets are not performing well. The paper identifies a range of structural and institutional shortcomings that impede urban land market performance, and then concludes by offering recommendations for making land and housing markets functions better. The Punjab Province in Pakistan is in the midst of a profound urban transition, driven by structural economic change. The Punjab is transforming from an agriculturally-based economy to a manufacturing and service based economy, which is leading to massive urbanization. This background paper reviews and assesses how well the Punjab's urban land and housing markets are functioning. The evidence suggests that urban land and housing markets are not performing as well as they could. Urban land-use planning and development controls are impeding urban development, while land titling and registration systems hamper real estate development. Systems of local resource mobilization and taxation do not generate sufficient revenues to fund key urban infrastructure. The paper notes the several critical negative consequences of poor urban land market performance, namely high land and housing prices, large and expanding katchi abadi developments, poorly located industrial estates, inadequate urban infrastructure, and constrained commercial development.en-USCC BY 3.0 IGOACCESS TO LANDADBAGENTSAGRICULTURAL LANDALMAPARTMENTSAUCTIONSBANK EXPOSUREBANKSBUILDING CODESBUILDING MAINTENANCECAPITALIZATIONCLEAR TITLECOLLATERALCOMMERCIAL PROPERTIESCOMMERCIAL PROPERTYCONSTRUCTIONCONSTRUCTION COSTSCONSTRUCTION CYCLESCONSTRUCTION INDUSTRYCONSTRUCTION PROJECTSCONSTRUCTION REGULATIONSCONSTRUCTION SECTORCOUNCILORSCREDIT RATINGSCURRENT PRICESDEVELOPED LANDDEVELOPMENT AUTHORITIESDEVOLUTIONDWELLINGECONOMIC CONDITIONSEMPLOYMENTFAMILY HOUSINGFINANCIAL INSTITUTIONSFINANCIAL MARKETSFORECLOSUREHABITATHOMEOWNERSHOUSESHOUSINGHOUSING ALLOWANCESHOUSING CAPITALHOUSING CONSTRUCTIONHOUSING DEMANDHOUSING DEVELOPMENTHOUSING ESTATEHOUSING FINANCEHOUSING MARKETHOUSING POLICIESHOUSING PRICESHOUSING PROGRAMSHOUSING PROJECTHOUSING PROJECTSHOUSING PROVISIONHOUSING SHORTAGEHOUSING STOCKHOUSING SUPPLYHOUSING UNITSINCOMEINCOME DISTRIBUTIONINFLATIONINSTITUTIONAL FRAMEWORKINTEREST RATESINVENTORYLABOR MARKETSLAND ACQUISITIONLAND DEVELOPMENTLAND ECONOMICSLAND MANAGEMENTLAND MARKETLAND OWNERSHIPLAND PRICESLAND SUPPLYLAND SUPPLY CONSTRAINTSLAND TITLINGLAND USELAND VALUELANDLORDLANDLORDSLARGE CITIESLAWSLEASEHOLDLEGAL FRAMEWORKLEGAL PROTECTIONLEGISLATIONLIQUIDATIONLIQUIDITYLOCAL GOVERNMENTLOCAL GOVERNMENT BUDGETSLOCAL GOVERNMENTSLOW COST HOUSINGLOW-INCOME HOUSEHOLDSMARKET VALUEMIGRATIONMORTGAGE LENDINGMORTGAGE MARKETSMUNICIPALMUNICIPAL ADMINISTRATIONMUNICIPAL CORPORATIONSNATIONAL HOUSING POLICYPARKSPOLITICAL COMMITMENTPOLITICAL ECONOMYPOVERTY REDUCTIONPRIVATE CONSTRUCTIONPRIVATE DEVELOPERSPRIVATE HOUSINGPRIVATE LANDPRIVATE LENDERSPRIVATIZATIONPROFITABILITYPROPERTY DEVELOPMENTPROPERTY OWNERSPROPERTY REGISTRATIONPROPERTY RIGHTSPROPERTY TAX REVENUEPROPERTY TAXESPROPERTY TITLESPROPERTY TRANSFERSPROPERTY VALUEPROPERTY VALUESPROVINCIAL GOVERNMENTPROVINCIAL OFFICIALSPUBLICPUBLIC AGENCIESPUBLIC HOUSINGPUBLIC LANDPUBLIC OWNERSHIPPUBLIC PROVISIONPUBLIC SECTORPUBLIC SPENDINGREAL ESTATEREAL ESTATE BROKERAGEREAL ESTATE DEPARTMENTREAL ESTATE DEVELOPMENTREAL ESTATE FINANCEREAL ESTATE INDUSTRYREAL ESTATE INVESTMENTREAL ESTATE MARKETSREAL ESTATE TRANSACTIONSRECURRENT EXPENDITURESREDEVELOPMENTREGULATORY FRAMEWORKRENOVATIONRENT CONTROLRENT CONTROLSRENTAL HOUSINGRENTAL PROPERTYRENTAL VALUE OF PROPERTYRENTSRESERVE BANK OF AUSTRALIARESIDENTIAL AREASRESIDENTIAL PROPERTYRESIDENTIAL REAL ESTATERESORTSRESOURCE MOBILIZATIONREVENUE SOURCESROADSRURAL AREASSAVINGSSECONDARY MORTGAGE MARKETSETTLEMENTSSEWERAGE SERVICESSHELTERSITE PLANNINGSLUMSSOLID WASTE COLLECTIONSOLID WASTE MANAGEMENTSTATE BANK OF PAKISTANTAXATIONTENANTSTRAFFIC CONGESTIONTRANSPORTURBAN AREASURBAN DEVELOPMENTURBAN GROWTHURBAN HOUSINGURBAN HOUSING MARKETSURBAN INFRASTRUCTUREURBAN LANDURBAN LAND DEVELOPMENTURBAN LAND MARKETSURBAN LAND POLICIESURBAN MANAGEMENTURBAN PLANNINGURBAN POLICIESURBAN POORURBAN POPULATIONURBAN SERVICESURBANIZATIONUTILITIESWATER SUPPLYZONINGWorld Bank10.1596/8280